There is a very weird disconnect going on right now with the commodities market. Euro is rallying, and the dollar index is looking rather bearish yet oil continues to be extremely weak, as do most of the other commodity plays. Also, gold has gone from being inversely correlated to being non-correlated to now being positively correlated with the equities markets. Market dynamics are changing significantly, and it looks like the old rules may not work anymore. Then again, this could just be a delayed reaction on one side, and either commodities are leading the way for an equities collapse or equities are leading the way for a commodities boom. Bottom line is, right now the commodities market isn't making sense.
Bears trying to make a push at the end of the day. This should be an interesting finish... too bad I'll probably be out buying HDMI cables. lol.
6ft 1.3 HDMI- 4.89 shipped http://cgi.ebay.com/New-6-ft-Premiu...286.c0.m14&_trkparms=66:2|65:15|39:1|240:1308 Save a buck with 20% MS Live cashback... Back to the markets!
crazy.. you think this lasts into tomorrow and/or next week, or just an end-of-day thing again like Monday?
I think there's a good chance this lasts into tomorrow. Next week is a new week -- I'd have to look at the weekly charts after Friday's close to try to make a determination where we're headed next.
Picked up some SDS at $97. Looks like $SPX has an intermediate downside of 810. The bulls just aren't ready yet.
ha, kinda annoying.. hit my stop on SKF at 137 by going to 136.9999 .. so half my shares sold. But then it went back up from there. Oh well, can't complain..
We still closed below the uptrend line that started 11/23...wouldn't be surprised to see a nasty gap down tomorrow.
I've given up on stops in this market. It's just too volatile. You think you have a loose ennough stop, you go grab a bite, come back and you've been shaken out. It is annoying as hell. I'll just have to stick to using mental stops -- requires discipline, but they're a lot less expensive.
Berlusconi blow as electricity demand plummets <i> Italian industry has slashed its electricity consumption by almost a third in two months in a stark sign of the force of the recession and a serious blow to efforts by Silvio Berlusconi's centre-right government to play down the depth of the crisis. Terna, the company responsible for electricity transmission across the national grid, recorded a 30 per cent fall in October and November, Flavio Cattaneo, chief executive, said. Output of steel and cars was particularly affected. On Monday the transport ministry reported that car sales of domestic and foreign cars in Italy dropped by 29 per cent in November from a year earlier. Italy is already in recession after two quarters of shrinking economic output. The eurozone's third largest economy is heading towards a deeper recession than its peers, according to analysts' forecasts. Cisl, the trade union federation, reported yesterday that 180,000 workers in manufacturing and construction lost their jobs from January to October. It warned that 900,000 jobs were at risk over the next two years. The government's public response has been to accuse the centre-left opposition and unions of scaremongering and assert that Italy is in good shape. Tito Boeri, professor of economics at Bocconi university, attacked the "miserable third of a point of GDP" stimulus, accusing Giulio Tremonti, finance minister, of being fiscally lax during the previous 2001-06 centre-right administration, but now adopting a "drip drip" policy when tax cuts were really needed. </i>
So, I'm thinking it's safe to assume that tomorrow will have a big drop due to the employment announcing?
I needed one "now" (sure I did)... I need to buy a couple more, but I'm going to hit monoprice.com for those. But thanks! And yes, back to the roulette wheel that is "the market".
